This was a fascinating listen for me this morning:
http://blogs.spectator.co.uk/2017/02...uropean-union/
It's all about the Sugar beet industry, and a lot of things I did not know.
Main takeaways:
- EU sets quotas for manufacturers which essentially acts as a cap on what they can export. So if there is a high yield year, a British sugar beet manufacterer has no choice but to store the sugar.
- Quotas are set in such a way that protects exports from poor countries who rely on sugar.
To me, this is protectionism but geared in such a way that benefit the interests of poorer countries (almost a form of aid or "international development") and which disadvantages manufacturers in a place such as the UK.
Doesn't seem fair or right that a sugar manufacturer should have their potential capped by quotas. They just aren't even allowed to export to other markets, and have to trade in unfair conditions, while sugar is government subsidised in other places.
Some interesting talk also of Australian sugar industry. Thought the whole thing was fascinating.
All of it is making me think more that I made a mistake when I voted Remain last June. I don't agree to signing up to a set of rules which benefit other countries at the expense of industry in my own country.